The latest oil and gas news from around the world.
Updated: 28 min 10 sec ago
Macquarie Strategists Forecast US Crude Inventory Build of Over 7MM Barrels
Macquarie strategists are forecasting that U.S. crude inventories will be up by 7.2 million barrels for the week ending February 7.
Shell Climate Case Revived before Dutch Supreme Court
Friends of the Earth Netherlands is asking the country's highest court to impose a specific emission reduction target on the oil giant.
Aramco Becomes Platinum Member at The Open Group
Platinum membership provides Aramco the opportunity to have representation on the technology standards organization's governing board.
Companies Warn EU Gas Price Cap Would Destabilize Markets
'A price cap does not decrease the global market price of energy, but may create upward price pressure and increased price volatility in Europe'.
Oil Futures Closed Higher as Sanctions Disrupt Russian Exports
Oil prices rose as US sanctions disrupted Russian crude exports, but long-term oversupply concerns remain.
Treasury Secretary Bessent to Visit Kyiv as Trump Seeks Minerals
Zelenskiy has suggested willingness to an agreement securing more U.S. backing in exchange for some of Ukraine's rare earths and other minerals.
USA Natural Gas Prices Experience Volatile Start in 2025
'The front month prices surpassed $4.0 per MMBtu on January 15, levels last seen in early 2023', analysts at BMI highlighted.
Elliott Says Phillips 66 Should Sell or Spin Off Pipeline Unit
Elliott, which has successfully pushed for changes at some of the world's largest companies, said Phillips 66 should streamline its operations.
Avangrid Signs Blue Creek Power Deal with American Municipal Power
Avangrid signed a short-term power purchase agreement with American Municipal Power for a portion of the energy produced from the Blue Creek wind farm in Ohio.
Iberdrola Sells Hydropower Plant in Brazil to French Firms
Iberdrola sold the 350-MW Baixo Iguacu Hydropower Plant in the Brazilian state of Parana to EDF and STOA for $247.1 million.
US Surpasses 50 GW of Solar Module Manufacturing Capacity: Industry Data
That is enough to cover nearly all domestic demand this year, according to the Solar Energy Industries Association.
Texas Oil Regulator Issued 666 Original Drilling Permits in January
The total includes 607 to drill new oil or gas wells, six to re-enter plugged wellbores, and 53 for re-completions, the RRC said.
Ocean Carbon Capture Tech Firm Launches Final Pilot Plant
Captura stated that it is proceeding with initial design work for its first large-scale commercial facility, with an expected annual capture capacity of tens of thousands of tons of CO2.
North America Ends Rig Gain Streak
The total North America rig count stands at 835, according to Baker Hughes' latest North America rotary rig count.
NNPC Reports 96 Percent Reduction in Routine Flaring at Anyala, Madu Fields
The flared gas is reinjected into a reservoir at the Madu field, and NNPC plans to commercialize the stored gas.
BP Pledges Strategy 'Reset' as Activist Elliott Builds Stake
BP pledged major changes at its upcoming strategy update after reporting a sharp drop in profit.
Iberdrola, BP Start Building 25 MW Green Hydrogen Plant in Spain
Expected to start operation 2026, the project will rise next to BP's refinery in Castellon and is meant to replace the refinery's gray hydrogen with green hydrogen.
Iberdrola's Neoenergia to Supply Clean Energy to CCR Group in Brazil
The supply is covered by the Neoenergia Oitis wind power complex, located between the Brazilian states of Piaui and Bahia.
Russian Data Shows Crude Output Has Fallen Further Below OPEC+ Target
Russia's output reportedly fell to 8.962 MMbpd last month, 16,000 bpd below Russia's target under the OPEC+ supply agreement.
WTI Rebounds 1.9% After Prolonged Losing Streak
Oil prices rose on supply concerns and geopolitical tensions but remained near yearly lows as US tariffs pressured the market.
